New MPs from finance sector double
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The proportion of new MPs from the financial services sector has doubled since Tony Blair’s Government came to power in 1997.
According to a report by the Mandano Partnership, 22 new MPs, 10 per cent of newly elec-ted members of Parliament last week, are now from financial services compared with 14 MPs or 5 per cent in 1997. Of the 22 MPs, 19 are Conservative and three are Labour.
The MPs include Tory MP for Filton and Bradley Stoke Jack Lopresti, a former mortgage broker, and Tory MP for North-amptonshire South Andrea Leadsom, who is Investco Perpetual head of corporate governance. Other new MPs inc-lude Tory MP for Chatham & Aylesford Tracey Crouch, who is Aviva senior political advisor, and Labour MP for Leeds West Rachel Reeves, who is an HBOS economist.
IFAs Philip Milton and Deb-orah Dunleavy both failed in their attempts to become Conservative MPs for North Devon and Bolton North-east respectively.
Aifa political analyst Katie Taylor says: “It can only be a positive thing to have a more commercially aware political audience that has worked in the financial services industry and will be sensitive to the plight of IFAs.”
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